Beard Construction comments on CIPS PMI data

05 April 2024

Following the release of the latest CIPS PMI construction data, which shows the construction sector return to growth with rise in output and new orders, we have a comment from Beard Construction.

Fraser Johns, finance director at Beard, said: “It is encouraging to see new orders increase once again in March and to their highest point in more than a year. It certainly demonstrates the growing appetite that is out there among clients to commit to new projects. Greater optimism around the economy and improving borrowing conditions is certainly helping to fuel this, most notably in the commercial sector and in housebuilding – arguably the sectors most impacted by the higher interest rate environment we’ve found ourselves in.

“We have certainly seen this on the ground at Beard and remain incredibly positive for the rest of the year - securing places on valuable frameworks, winning work in new regions and building a healthy pipeline of both higher value projects as well as property services work.

“While it certainly feels like the sector is turning a corner, and the bumps in the road to recovery are levelling, we still shouldn’t take these improving conditions or the growing confidence among clients for granted. There’s still challenges out there and those still feeling considerable pressure. A mature approach to tendering, as well close partnerships with both customers and suppliers will still be necessary to sustain this positive trend.”